MINING WELCOME 欢迎采矿 - The ASIA Miner

Company Profile
An aerial view of the exploration camp established by Kula’s subsidiary Woodlark Mining.
been discovered at Munasi and Kulumadau East with
several regional targets remaining untested. Global
JORC resources now stand at 37.3 million tonnes @
1.5 grams/tonne gold containing 1.84 million ounces.
In addition to ongoing exploration, Woodlark Mining also
completed a scoping study in 2009 and pre-feasibility
study (PFS) in May 2010. The latter demonstrated that
there is sufficient ore present at Busai and Kulumadau to
justify a plant annually processing 1.5 million tonnes with
a mine life of about six to seven years producing in the
order of 100,000 ounces each year.
Woodlark Mining is completing a feasibility study on
the project which will provide the development blueprint
and foundation for financing and permitting. Ore processing
is anticipated to commence at the amount suggested
in the PFS with an initial mine life of at least six
years. Provision for ramp-up to 2.65 million tonnes on
the back of conversion of existing inferred resources to
reserves, incorporation of Kulumadau East mineralization
into the resource base and future exploration success
on the eight other epithermal targets on the island
will be included in the feasibility study.
The various components of the feasibility study including
geotechnical studies, hydrological, metallurgical
and process design work (undertaken by GR Engineering)
are all progressing. Metallurgical test work to date
indicates that the processing plant will achieve overall
recoveries of up to 92% utilizing a gravity circuit following
by CIL following a moderate grind.
Concurrently with the feasibility study, the company
has significantly progressed all elements of an Environmental
Impact Study required by the PNG Government
as part of the permitting process.
In addition, the company is continuing to provide regular
project update briefings to the PNG Government, Provincial
Government and Woodlark Islanders to progress the
permitting process which is the main critical path item in
the overall project development schedule.
Kula Gold is confident that the feasibility study will
lead to a resumption of mining operations on Woodlark
Island more than 100 years after the Kulumadau Mine
was first listed on the Sydney Stock Exchange.
The Woodlark Island project includes the historical mining centres of Kulumadau, Busai and Boniavat.
January/February 2012 | ASIA Miner | 19